TOKYO — Japan’s economy grew an annualized clip of 1.9% in the second quarter, better than the initial estimate of a 1.3% gain, revised government data showed, confirming a gradual recovery from the COVID-induced slump.
The revised figure for gross domestic product (GDP) released by the Cabinet Office on Wednesday compared with economists’ median forecast for a 1.6% annualized growth in a Reuters poll.
On a quarter-on-quarter basis GDP expanded 0.5% in the April-June quarter, also better than the initial reading of 0.3% and compared with a median forecast for a 0.4% rise.
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For the full tables on the Cabinet Office’s website: https://www.esri.cao.go.jp/en/sna/sokuhou/sokuhou_top.html (Reporting by Tetsushi Kajimoto; Editing by Chang-Ran Kim)